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The difference between the simple interest and the compound interest, compounded annually, on a certain sum of money for 2 years at 16% per annum is ₹797. Find the sum (rounded off to the nearest integer).

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RRB NTPC Graduate Level CBT-I Official Paper (Held On: 05 Jun, 2025 Shift 1)
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  1. ₹31,137
  2. ₹31,133
  3. ₹31,113
  4. ₹31,130

Answer (Detailed Solution Below)

Option 2 : ₹31,133
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Detailed Solution

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Given:

Rate (r) = 16% per annum

Time (t) = 2 years

Difference between CI and SI = ₹797

Formula used:

Difference (CI − SI) for 2 years =

Calculation:

⇒

⇒

⇒

∴ The correct answer is (rounded to nearest integer).

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